Forums / Property Investing / Help Needed! / Buyers agent fees

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  • Profile photo of mgrmgr
    Member
    @mgr
    Join Date: 2004
    Post Count: 50

    Could anyone give a guide to what the average buyers agent fee in Queensland would be,they are only finding the property OTP then my solicitors would take over i have been given a price of $5000 per property is this about right or not.
    First time IP buyer sorry if it’s strange question.

    Profile photo of Smart CookieSmart Cookie
    Participant
    @smart-cookie
    Join Date: 2004
    Post Count: 33

    MGR…..this is the going rate – $4 to $5K, but try and negotiate. Everyone out there is trying to make a sale.

    Good luck with it.

    Marty

    Profile photo of mgrmgr
    Member
    @mgr
    Join Date: 2004
    Post Count: 50

    Is this the going rate for only finding a property not handling any other matters they will not be acting as an agent between the seller and buyer my solicitor will be handling everything with the seller.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Some will charge a percentage of the price – around 2%. And some will be paid a commission from the real estate agent selling the property which they rebate against what you pay.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of pumpkinpumpkin
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    @pumpkin
    Join Date: 2004
    Post Count: 14

    I am just new too, obviously a dumb question, but what is a buyers fee? I live in Qld and would like to learn more, could someone please explain the concept.

    Lara Hansen

    Profile photo of Smart CookieSmart Cookie
    Participant
    @smart-cookie
    Join Date: 2004
    Post Count: 33

    Pumpkin,

    Not a silly question, you have to start somewhere. If you source the services of an agent to locate/find a property for you, they (agent) charges a fee for their services.

    Hope this helps.

    Marty

    Profile photo of pumpkinpumpkin
    Member
    @pumpkin
    Join Date: 2004
    Post Count: 14

    Thanks Smart Cookie! So, is that what I have heard (in the forum) by the term, spotters? How do you locate these people? do you have to charge them even if what they find is not what you are after? are these people able to find you cash flow positive properties? Sorry for all the questions.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Have a look at the API magazine, there are a few advertising in there. I think ‘spotters’ are different to buyers agents. Spotters just find a property, buyers agents are usually licenced real estate agents and can find, and negoitate on a property for you – hopefully saving you the time and hassle and saving you more than their fee.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of geogeo
    Member
    @geo
    Join Date: 2003
    Post Count: 1,194

    Hi pumpkin,

    There are some great ones on this site. PM or email Westan, Minimogul or Castledreamer.

    Im sure they’ll be able to help you if you intend to purchase in NZ some-day.

    Kind Regards,
    George.

    I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

    Profile photo of DDDD
    Member
    @dd
    Join Date: 2004
    Post Count: 508

    Pumpkin I charge $1500/property for the sale and offer discounts on legals/building and pest reports too. If a reno is needed Southside I offer a service there too. Geo is right that some but only a few real estates offer rebates to buyers agents.

    I get an average of only $100.00 on settlement from most agents. I disclose everything as it is always more simple that way.

    Good luck and Westan and Minimogul and Castledreamer do NZ property. Send them some PM’s to chat about what they do.

    DD

    Don’t sweat the small stuff,and it’s all small stuff!!

    Profile photo of elika7264elika7264
    Member
    @elika7264
    Join Date: 2003
    Post Count: 160

    Hi,
    to obtain a more detailed overview of buyers’ agents why not do an internet search — this should throw up a number of web sites. Check the services offered per dollar, then speak to the key people. While I haven’t used a buyers’ agent, its definitely something I would consider in the future. But there are differences in the range/quality of services provided. So caution advised.

    Regards,[cap]
    Helen

    Profile photo of CastleDreamerCastleDreamer
    Participant
    @castledreamer
    Join Date: 2003
    Post Count: 288

    Suggest that DD’s services in SE QLD would be excellent starting point – a dynamic spotter who will help you get a good return in a decent growing area of Brissy or surrounds.

    If you are after NZ, then go with Geo’s recommendations – you can also PM tasinvestor as well for NZ stuff.

    Cheers
    CD

    CastleDreamer
    “+CF properties in NZ available now, email CastleDreamer or Minimogul”

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